MIRA INFORM REPORT

 

 

Report Date :

02.02.2012

 

IDENTIFICATION DETAILS

 

Name :

ORION MACHINERY CO LTD

 

 

Registered Office :

246 Kotaka Suzaka City Nagano-Pref 382-8502

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2011

 

 

Year of Establishment :

November 1946

 

 

Com. Reg. No.:

(Nagano-Suzaka) 005488

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturer of industrial machinery, dairy equipment, other

 

 

No. of Employees :

593

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

Yen 833.0 Million

Status :

Good

Payment Behaviour :

Regular

Litigation :

--

 

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Japan

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name and address

 

ORION MACHINERY CO LTD

REGD NAME:    Orion Kikai KK

MAIN OFFICE:  246 Kotaka Suzaka City Nagano-Pref 382-8502 JAPAN

Tel: 026-245-1263     Fax: 026-245-5358

 

URL:                 http//:www.orionkikai.co.jp

E-mail:             (thru the URL)   

 

 

ACTIVITIES

 

Mfg of industrial machinery, dairy equipment, other

 

BRANCHES   

 

Tokyo, Chikuma, Nagano, Chitose

 

OVERSEAS   

 

Shanghai, Taipei, Hong Kong

 

FACTORIES

 

Chikuma (Nagano), Chitose (Hokkaido)

 

OVERSEAS   

 

Shanghai, Dongguan (--China), Taiwan, Korea, Hong Kong

 

 

OFFICER(S)  

 

TETSURO OHTA, PRES                        Kazuo Shimizu, s/mgn dir

Masuo Yoshioka, mgn dir                       Tsugio Kobayashi, dir

Shigemi Yanagisawa, dir                        Tohru Kaneko, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    FAIR                 A/SALES          Yen 21,284 M

PAYMENTS                  REGULAR         CAPITAL           Yen 100 M

TREND             UP                    WORTH            Yen 17,498 M

STARTED                     1946                 EMPLOYES      593

 

 

COMMENT    

 

MFR OF INDUSTRIAL MACHINERY & DAIRY EQUIPMENT. 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FORORDINARY BUSINESS ENGAGEMENTS

 

MAX CREDIT LIMIT: YEN 833.0 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

            The subject company was established by father of Tetsuo Ohta in order to make most of his experience in the subject line of business.  This is a specialized mfr of industrial machinery and dairy equipment (See OPERATION).  Tops in the mfg of dairy equipment (milking parlor).  Sales are conducted by 9 subsidiary dealerships from Hokkaido to Kyushu, with a total 32 offices nationwide.  The firm awarded the Prize from the Japan Machinery Federation for its product heat pump balance control air dryers.  Goods are also exported.  In 2011, the firm bought up a dairy products sales company in China. 

 

 

FINANCIAL INFORMATION

 

            The sales volume for Mar/2011 fiscal term amounted to Yen 21,284 million, a 31% up from Yen 16,209 million in the previous term.  Market came back to normal levels.  In the previous term the sales were substantially affected by the global economic downturn.  Production revived.  Exports were robust, particularly into China.  The recurring profit was posted at Yen 2,245 million and the net profit at Yen 1,521 million, respectively, compared with Yen 825 million recurring profit and Yen 897 million net profit, respectively, a year ago.  .

 

For the current term ending Mar 2012 the recurring profit is projected at Yen 2,250 million and the net profit at Yen 1,550 million, respectively, on a 3% rise in turnover, to Yen 22,000 million. 

           

            The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 833.0 million, on 30 days normal terms. 

 

 

 

 

 

REGISTRATION

 

Date Registered:  Nov 1946

Regd No.:        (Nagano-Suzaka) 005488

Legal Status:   　Limited Company (Kabushiki Kaisha)

Authorized:      　800,000 shares

Issued:             　200,000 shares

Sum:                　Yen 100 million

Major shareholders (%): Employees’ S/Holding Assn (39.2), Tetsuo Ohta (22.3), Tokyo Small & Medium Business Promotion and Investment Corp (15.7), Executives’ S/Holding Assn (6.3)

No. of shareholders: 39

 

Nothing detrimental is known as to the commercial morality of executives.

 

 

OPERATION

 

Activities: Manufactures industrial machinery/equipment (78%), dairy equipment, other (22%)

Exports (7%)

 

(Mfg items): Industrial machinery & equipment: plate heat exchangers, refrigeration equipment (chillers, dehumidifiers, food service equipment), clean air systems (DC inverter air dryers, Digi-Eco refrigerated air dryers, inverter air dryers, heatless air dryers, refrigerated air dryers, air filters9, vacuum pumps, jet heaters, precision temp & humidity control systems, dairy machinery/equipment (milking parlor), other.

 

Clients: [Mfrs, wholesalers] Hokkaido Orion, Nishinippon Orion, Tohoku Orion, Higashinippon Orion, Chubu Orion, Kansai Orion, other (--subsidiary wholesalers)

No. of accounts: 500

Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Orion Seiko Co, Orion West Falia Surge Co, Clean Kagaku Kogyo, Rion Thermology Co, Panasonic Corp, other

 

Payment record: Regular

 

Location: Business area in Suzaka City, Nagano-Pref.  Office premises at the caption address are owned and maintained satisfactorily.

 

Bank References:

Hachijuni Bank (Suzaka)

Shoko Chukin Bank (Nagano)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

       Terms Ending:

31/03/2012

31/03/2011

31/03/2010

31/03/2009

Annual Sales

　

22,000

21,284

16,209

21,285

Recur. Profit

　

2,250

2,245

825

1,221

Net Profit

　

1,550

1,521

897

636

Total Assets

　

　

28,109

25,210

25,546

Current Assets

　

　

18,096

15,522

15,276

Current Liabs

　

　

7,859

5,644

6,025

Net Worth

　

　

17,498

16,604

15,756

Capital, Paid-Up

　

　

100

100

100

Div.P.Share(¥)

　

　

10.30

9.40

10.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

3.36

31.31

-23.85

-12.77

    Current Ratio

 

..

230.26

275.02

253.54

    N.Worth Ratio

..

62.25

65.86

61.68

    R.Profit/Sales

 

10.23

10.55

5.09

5.74

    N.Profit/Sales

7.05

7.15

5.53

2.99

    Return On Equity

..

8.69

5.40

4.04

 

Notes: Forecast (or estimated) figures for the 31/03/2012 fiscal term. 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.53

UK Pound

1

Rs.77.95

Euro

1

Rs.64.66

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.